Editor’s word: The Every day Herald requested Dan Seals of Intersect Illinois and Matt Paprocki of Illinois Coverage Institute to supply their standpoint of latest selections by Caterpillar, Boeing and Citadel to maneuver their headquarters out of Illinois.
By Dan Seals
Intersect Illinois
A pair years in the past, a machine instruments producer from Spain selected Illinois to launch its U.S. operations.
It was a profitable launch and the corporate quickly developed clients throughout the nation. Enterprise was good, however the firm heard it is likely to be higher someplace else.
So when Texas referred to as with incentives to maneuver there, the corporate relocated simply exterior of Houston. Certain sufficient, issues have been totally different there. The tax charges have been decrease, however the labor was much less expert. In actual fact, the price of coaching and retraining the workforce was so excessive that it was prohibitive. Final November, the corporate moved again to Illinois.
Shocked? Many individuals are.
A false narrative suggesting firms are fleeing the state as a result of it isn’t an amazing place for enterprise has taken maintain in Illinois. It’s exhausting to overstate the affect of this unfavorable and inaccurate self-talk.
Dangerous information is given further weight whereas excellent news is seen with skepticism. Over time, too many Illinoisans begin to imagine in that unfavorable narrative quite than the reality. What’s worse, different states use those self same factors to make their case towards us.
So let’s set the document straight. First off, there are extra individuals shifting to Illinois than leaving the state. The U.S. Census Bureau introduced on Could 19 that it had undercounted Illinois’ inhabitants by 1.97 %, or about 250,000 individuals, during the last decade. Meaning our present inhabitants of over 13 million is the best in our historical past.
Second, Illinois is a good place to do enterprise. It has the fifth-largest financial system within the U.S. and the 18th-largest financial system on this planet. You do not attain these heights by being a foul place to do enterprise.
In actual fact, 480 companies moved or expanded right here final yr, the third-most within the nation, in line with the business journal, Website Choice. For instance, Kellogg’s, Google and Ferrero have all introduced main growth plans in Illinois.
And whereas Caterpillar is shifting 240 jobs of their govt workplace out, they’re holding 17,000 manufacturing jobs in. What’s extra, Caterpillar is hiring in Illinois.
Illinois is house to extra Fortune 500 firms than all however three states, together with firms like ADM, McDonald’s, State Farm and Abbott, simply to call just a few.
And it isn’t simply the massive firms which might be doing properly right here. We’ve got additionally seen a 200 % enhance in startups popping out of our universities and a commensurate enhance in enterprise capital funding. We’re additionally seeing business disrupters like electrical automobile maker Rivian and the Google-backed agtech firm, Farmers Enterprise Community.
Once more, it is a great spot to do enterprise.
The explanation these firms select Illinois are assorted, however two virtually at all times stand out.
The primary is our top-notch infrastructure. You’ll be able to fly from right here to any main U.S. vacation spot in underneath 4 hours. We’re the one state the place all seven of the nation’s largest railroads meet. Throw within the nation’s third-largest interstate freeway community and the third-largest inland freight hub, and corporations in Illinois know that their items and folks can circulation seamlessly around the globe.
Second, our expert workforce is a good benefit for firms. The College of Illinois alone graduates extra engineers yearly than Stanford, MIT, and Caltech mixed. And the College of Chicago and Northwestern College are persistently ranked among the many finest universities in not solely the US, however the world.
One-third of our 6.5 million staff have a bachelor’s diploma or larger. All of it provides as much as probably the most numerous and productive workforces within the nation.
The right narrative of our state is we’re a lovely place to work, reside and play. That does not imply we should not be debating the best way to make it even higher. That is what we’re presupposed to do in a democracy.
However you should not must tear down the state to make some extent. Doing so is not simply factually incorrect, it truly damages the enterprise setting you hope to repair. Our individuals and our firms deserve higher.
• Dan Seals is the CEO of Intersect Illinois, a public-private enterprise recruitment group devoted to bringing new jobs, funding and financial prosperity to Illinois.